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Explain Santelli's Logic (Today's New Comment) To Me
- Thread starter nravo
- Start date
That wasn't the analogy, moron, and that's not my point which you continue to try to obfuscate because you can't dispute it.
Quote from dsq:
Borrowers didnt walk in the banks and steal their money.It was banks who threw the money at these losers.
Apologists for irresponsible banks are pathetic.Banks are supposed to be run by intelligent,responsible people.That they would give a half million bucks to undocumented poor people is moronic.Apparently a 5yr old understands this concept but you dont.
Quote from IluvVol:
no it has not. This (the housing plan) is not to bail out banks but almost entirely about consumers, consumers, consumers. I guess you are rather the one who does not get it.
The target of discussion is not about banks anymore and it has not been for several months now in case you have slept (aside the Citi and BoA issues).
The focal point has turned to unemployment and in turn consumer spending which is the driving force in every economy. Unemployed and those who cant make mortgage payments anymore dont consume, simple as that. Not sure which part you dont seem to get....
I'm sorry, but you have no idea what you are talking about. Have you ever taken a basic course in Macro-economics?
The CREDIT MARKETS ( and thus banking sector ) is what makes the Economy run. It has ALWAYS been the focal point. But because TARP-1 got changed at the last minute by Paulson and became a failure, we are no better off than we were 6 months ago when the commercial paper market (among others) totally froze!
Why do you think Germany, Japan, China, and the UK are having so many issues and melting down as well?
It's about the CREDIT MARKETS.
Duh.
Quote from Trader666:
That wasn't the analogy, moron, and that's not my point which you continue to try to obfuscate because you can't dispute it.
I think a 5yr old has better judgement than you or these clown bankers/subprime engineers concerning giving out no money down,no collateral mortgages.
Apparently children are less naive than you or these bankers.
LOL at you guys who think that all people who took loans beyond their means are idoits
some of these guys had no net worth (nothing to lose)
no credit score or bad credit score
and somebody gives them a loan with no questions asked
It was risk free for them if the house market goes up they get rich if it goes down who cares you got nothing they can take from you.
you be an idot not to take this
who the fuck wouldn't take a freeroll
some of these guys had no net worth (nothing to lose)
no credit score or bad credit score
and somebody gives them a loan with no questions asked
It was risk free for them if the house market goes up they get rich if it goes down who cares you got nothing they can take from you.
you be an idot not to take this
who the fuck wouldn't take a freeroll
Either you're a total moron or you have zero sense of personal responsibility because my point has gone completely over your head.
Are you so bitter because you're a "victim" of the banks?
Are you so bitter because you're a "victim" of the banks?
Quote from dsq:
I think a 5yr old has better judgement than you or these clown bankers/subprime engineers concerning giving out no money down,no collateral mortgages.
Apparently children are less naive than you or these bankers.
Quote from Pa(b)st Prime:
Carl, What I'm posing is the fact that the SIPC doesn't have the reserves to handle a major, major blow out. They'd need to approach Congress for help. Just like the banks did......
It's worse than that. Congress doesn't have the reserves to handle a major blowout. Who is the insurer to the USA? Some risks are too big for anyone to be able to cover them.
Joe Public will eat the losses, it's as simple as that. The only question is in what form those losses will be taken - FDIC insolvency, hyperinflation, punitive class warfare taxation etc.
The entire US, and developed world, is leveraged long a bubble asset - banks are long housing on leverage, the public is long housing on leverage, and then the public are long bank accounts which are leveraged 10:1 or more too. The system could well be bust.
Look who doesn't know what he's talking about... you've been listening to too many talking heads. The credit markets are a means not an end and they've frozen for good reason.
Quote from Landis82:
I'm sorry, but you have no idea what you are talking about. Have you ever taken a basic course in Macro-economics?
The CREDIT MARKETS ( and thus banking sector ) is what makes the Economy run. It has ALWAYS been the focal point. But because TARP-1 got changed at the last minute by Paulson and became a failure, we are no better off than we were 6 months ago when the commercial paper market (among others) totally froze!
Why do you think Germany, Japan, China, and the UK are having so many issues and melting down as well?
It's about the CREDIT MARKETS.
Duh.